everyone is saying doing business in russia is high risk!!...

everyone is saying doing business in russia is high risk!! saying tigers is share to avoid as no one would do business in russia, let alone Chukotka...

but really, are those brokers just talking garbage??

what if bhp for instance went to Chukotka??? would that validate the work tigers is doing on their old amman resource that they let go??

ohh, you dont believe bhp is looking at Chukotka???

imho every investor should email this to their brokers.. let them know that even bhp would look at Chukotka and has before with amman in particular..

perhaps some may look at tig with a different view now??

i mean, tig is a long way down the road compared to bhp right now!!


Millhouse, BHP discussing Chukotka gold project

MOSCOW. - Billionaire Roman Abramovich's Millhouse is in talks with mining giant BHP Billiton to form a joint venture to develop the Baimskaya field, potentially one of Russia's largest gold and copper deposits, the Kommersant newspaper said.

BHP could get 75% of a joint venture that would own 100% of the field's operating company, LLC Baimskaya Mining Company, and the Millhouse-controlled Aristus Holdings Ltd would retain 25%. Millhouse could get about $1 billion in the deal, $350 million of it on closure and the rest in tranches as the project progresses.

The project might be complicated by a shortage of power capacity for such a large project, a lack of transport infrastructure and the need to get the deal approved by the government's commission on foreign investment.

The Baimskaya property includes the giant Peschanka field, which contains a potential 27 million tonnes of copper and 1,600 tonnes of gold, the Chukotka region's governor, Roman Kopin, said early last year. Kopin said 80% of the field's commercial reserves might be listed in 2011 (5 million-6 million tonnes copper and 250-300 tonnes gold).

LLC Baimskaya Mining Company received the Baimskaya license in 2008. Polyus Gold was also in the frame to get the license.

The first joint project that BHP planned with a Russian company in Russia - the Syradasai coal field on the Taimyr Peninsula with MMC Norilsk Nickel - was unsuccessful. The partners wound the project up and Norilsk Nickel decided to carry it out itself.